Evening Star Newspaper, February 17, 1924, Page 6

WALSH OPPOSES PRESIDENCY BOOM “Refuses to Allow His Name to | Be Circulated on Nebras- . ka Petitions. Benator Walsh of Montana, whe has Baen directing the Investigations Into <he oll scandals, hus written a letter declining to consent to the efrculu- tion in Nebraska of petitions in his hehaif as candidate for the dem cratic presidential nominati In reply to a telegram asking per-| Cmission (o clrenlata petitions in’his behalf, Senator Walsh replied: .. *1 am profoundly appreciative of | o the favoruble regard of the Nebraska Democratic Club, due -to the service 1 have been able to render the coun- Ltry as & member of the committee on public lands and surveys of the iinited States Senate prosecuting the iBquiry into the lewces of the naval @il resorves. I am sure that the sotlon you propose would signify simply your appractation of my ef- forts f1. that connectlon without any serious thought of urging my nomi- atlon' for th officc of the presi- {Eowaver, ns assent on my part of Sipur kind suggestion would in obability be misconstried and m gnderstood, 1 teol obliged to decl B Vuaaks. tho. pHv lege you ask | 58 Cireulating petitions o 'my bo- SR S DEFENDS REQUEST FOR OUSTING DENBY f&nntor Adams Declares Cabinet! Is Only Creature of Congress. EXPLAINS TEAPOT SCANDAL ;Qolotodn Describes Progress of Senate’s Inquiry. DiThe President's cabinet “is the ©feature of Congress” and Congress does not overstep Its domaln when uires into the acticitles, of cibinet membe:s, Senator Alva B. ams, democrat, of Colorado told the Political Study Club yesterduy wfternoon. He was addressing the club on *‘the Teapot Dome Inquiry,” &t its regular meeting in the Frank-| #h Square Hotel. All of the government departments | erted Senator Adams, a member of tho ofl scandal investigating com- were created by acts of Con- cads ‘are appointed ubject to ratifica- Congress. The the Senate fs sought on the appotnt- fment of every Secretary, hie said. Creature or Congress. “Therefore,’ continued Senator Adams, “the cadbinet is the creature ©f Congress. The Navy Department, 2 War Departr t, the Interior Department ond a epartments, are *he creatures of Congress. There- fore Congress does not overstep ita | Yomair when it inquires Into what the cabinet and its members are doing.” Referring to the Senuto's request that President Coolidge dismiss Sec- retary of the Navy Denby, Senator Adams sald ke feit sure no member of the public lunds committee, which ittutes the oil case Investizating Intended to insinuate that the i heud had practiced corruption. The resolution,” he continued, “was {pothing more thn o recommendation it cretary Denby as hexd of the by failing to properly protect ofl “reserves which would bo so 'vital a part of its cquipment in time of war, We slmply szid we belleved & better fitted man chould control so fmportant a department.” i3 Protest by Officers. Senator Adame rpointed out that ranking officers of the Navy hed 1y protested agatnst transfer oil rescrves to the Interior ment and later agalnst their to private {nterests. Therefore, seerted, not only had Congress cefied, but the judgment of ed men, who hud devoted thelr Aives to studying the needs of the iNavy and had thelr Learts wrapped up in its welfarc, had been neglected. nator Adams retraced the ofl caee ndal from its inception. He told )w the reserves, selacted areas pick- by experts as rich in petroleum, ad " been acquired by Preaident “Jioogevelt, carefully safeguarded dur- ing President Wilson's terms end then H#turned over to private interests by “Albert B. Fall while he was Secro- fary of. the Interior. he pity of 21l of this mess,” he “eoncluded.” “is that it brings eus- !nicion upon our government. It makes {1, 0 much easler to go out (nto the iidustrios and the countryside and y: ‘I told vou xo’ The thing to do 557t alg Tight down te the batc it, expose it to the very roote. “herl tiie surgeon dlgs for A cancer be gets right down to the roots, That is what we shall do. i “Don’t think the dome °f the Cap- itol fs crumbling. Remember, only ©ne man took money; oniy oné man liceded the corrupters who were ound. Every yesr our governmant i'Tows peleaner and cleaner, and we #re trying to Go thinge—progressive ‘thingg—no government ever bafore dried. And that is one of the reasons ‘things scom #o much worse than they JFeally ar FALL REJOINS WIFE, " NOW SICK IN EL PASO ‘Only Few Friends Meet Him at & Station—Will Return to New Mexico. consent of P the Amsociated Preas, EL PASO, Tex., February 18.—Aibert P. Fall, former Secretary of the In- terior, arrived here toda; d W laken to the home of h'l‘s lLQ.E‘II\J :'s Ghlle. collector of customs of 80 port, where Mrs. Fall is 3 1 Mn_Pall wae nccompnnled b imer Governor George Ci {Mexico and Mrs. Juck !daughter-in-law. (he Iu r. ri‘nll hla iChase. He seemed but little ehnnsed “und walked with a firm step, r. and Mra. !ra.n Wil not attempt o reopen their in Bl Pa Mcn 8 -llcmly l maged by fire rigin of the flames is un- e l‘n o Wil roturn to their Vi ithin n ithere ome will & ns‘n‘ dnnlovnnnu ln th- quiry, it {8 understood. WILL TELL OF AIR RACE. tterson Bails to Interest Foreign Pllots. 1§ wew YORK, February 10 tarson, P of the ronauticel lu Ghatton, Ie y n the Berengaria to stimulate lntar- st among {mportant Kurdi n der eup. Both t'tl!l will POMERENE IS GIVEN SENATE 0. K. AFTER LONG, BITTER ROW (Continued from First Page.) the I‘r!slflent of the United States would not. Senator Wal 1d Mr. Pomerena has practiced only i Kis home town of Canton and adjoining countles, and had never tried a case, civil or criminal, in a federal court. He sdded ‘that at least one of govern- ment counsel ghould be thoroughly oxpertenced {n public land laws, but that both of counsel had told the oll committee that the legal phases of the public land question were “a sealed book to them.” Can’t Sec Appointment. “If it were not for the political considerations {nvalved,” Senator Walsh declared, “1 can:not see lhow the President of the United States could have uppuinted Senator Pom- crene.” Volcing his opposition to Mr. Roberts, Senator Walsh declared that what was needed was a lawyer of outstanding reputation and that yet not & singlo member of the ofl com- mittes ever had heard of Mr. Roberts until his appointment was made. Chalrman Lenroot, of the ofl com- mittee, defended the appointments, declaring_that both Mr. Pomerene and Mr. Roberts were men of ablility and fully capable of handling the cases. He contended that the real { auestions Involved were the legality f the contracts and whether there | was executive authority for the j transfer of the control of the naval oll reserves from Navy to the] Interfor Depurtment. nd laws, he argued. ure involved only in incidental quesifons such as to ‘whether there was i conspiracy by which the Standard Ol interests were to give Harry F. Sinclair a clear fleld to obtaln the lease orf Teapot Dome. Interrupted by Senator Norrls, ra- publican, Nebratka, Senator Lenroot agreed that the land law was the real question iuvolved In the pro to recover sections 16 and 36 in Cali- fornia. ledge Backs Pomerene. Senator Lodge of Massachusetts, the republican leader, also supported Mr. Pomerene as “o man of hono: a man of abllity; 2 man of energy a man to be trusted.” “What we need here in this great work,” said Senator Lodge, “is energy, patriotism and determination to serve the country regardiess of anything ¢else. 1 don't beliave there is a ma: in the country who will serve wi: greater energy than Semator Pome- re! Opening the fight against Mr. Pom- erene, Senator Dill, democrat, Wash- ington, who also initlated the fight for the open sesslon of the Eenate, ex- pressed the hope that “eenatorial courtesy” would not influence the votes of any senator. He declared the Issue should be met squarcly and dee manded to know what the country :xc:;’x: Shink 1 the Senate tailed to rt Senator Walsh on t! = tion of counsel. hetgnge Pening the nomination, Senator Wheeler, democrat, Montana, declared that the tk;[hngplhal “nauseated” him “the Preside i tions had glven o apparent thaoss apparent th to_the qualification srant 5 s of the men."” First the Presldent appointed Mr. Gregory without inquiring as to his oil Interests.” Nenator Wheeler said. ‘Then he appoiuted Mr. Strawn. Now he has named a man from the demo- cratic party, knowing it would be difficult for mlny on this side to vote against him. parently ths only recummandnuon or Mr. Roberts wes tha endorsement of the eenfor sen ator (Pepper) from Pennsylvania. Sonad ¢ (}:)Iolll i ors ttman, ads, & Jones, New Mexic: d.mocrfltb “in n’)‘l‘! Plaining beforehand why they would Vote for Mr. Pomerene, declared they were weary of delay and that in any event there was no assurance that the grem(demmn‘oulh appoint men of reater ability than the las hiud selected. S prwo e Senators No crut. Kentucky: to1d. the Senate Tos would follow lead of Senator Walsh in this matter, as he was better lu:&\;u'l:lle:e with the facts und the single man 1 the country. " °heF In the Course of Debate, In the course of debate, Chalrman Lenroot eald, In response to & ques- tion, that the firm Mr. Pomerene be- came assoctated with in Cleveland represented fifteen ratlroads. “I know that he's an honest man,” sald Senator Reed, democrat, Missouri, “I know that he hes a superabundance of courage. It ho had been a little Tore of & dodger, he would have still been in the Senate.” Senator Brookhart, ' republican, lowa, asked it Mr. Pomerene had han- dled railroad cases prior to entering the Senate. Hi led Rail Cases, “I don't think I violats a confi- dence,” sald Chairman Lenroot of the ofl committee, “when I say he had two cages from the Pennsylvania rail- road.” Senator Stanley, democrat, Kentuck, declared Senator Dill “expected too much of our Chlet Executive. “You certatnly don’t expect him to appoint a more progressive man than Mr. Pomerene,” sald Senator Stanley. “I certainly don't. He has taken us into his confidence so far as to say that he will not hinder his naval sec- retary in the slightest degree until that ofiicer has been reported upon by theee attorneys we are discuss- ing. 1t is human only that the Presi- dent expects to see Mr. Denby vindi- cated. We must not expect hith to hunt a lawyer ltke the senator from Montana, for inwtance, to accomplish that purpose.” Both Senators Dill and Stanley pro- tested their admiration of and affec- tlon for Mr. Pomerene and disclaimed any intent to “criticise in any way his Integrity or ability. Senator McKellar, democrat, Ten- nessee, called atténtion that Mr. Pomerene had been an outstanding figure in the Newberry election case and had made & “great success” of his_work in it "I venture to predict;” sald Senator McKellar, “that he will be a8 suc- cesstul in this case.” ‘Willis Backs Pomeren Senator Willis, republican, Ohlo, urged confirmation, declaring hq had } known the nominee for twenty yolrs.‘ and while oppoain hlm Soliticaly, rceognised hl He suid he was a mem o %ot the “progressive wing of his party, a credit to ufs state and a con-e.lenuou- man and b‘f enough lor Job."” n the twel re of his service in the Senat ator Willis declared Nr. Pomeréne “never dodged a vote; ~-no0 one controlled him. Benator Foss, republican, Ohto, who defeated Mr. sty al ! ! | |thing to do with oil. don't belleve,” he sald, & more upetanding man in either party in Ohlo. He lu a man of r at courage and I belleve he will a d man to Tebresent the govern- ment in this cas In the ap) nln\m-m of Mr. Pomerene Benator Dill sald, the President had chosen “a man With no experlence in land law litigaton and hone in the equity courts except, I belleve, one case since he left the on. 1, “is & reputable tri awyer ot Philadelphia. But he Al:ol is without epacial xperience nec- essary In thle case and is a stranger to us.” Says Walsh Ignoved. The Washington senator sald Sen- ator Walah, conducted the oll inquiry, had b ignored In the selection of spacial counsel, his views being sought in both cases only after the selections hn_}lhbe‘evn announced. th posal ¢lted that he had vot« t portation act. tired from the Senats, the employ of the roads (8 SUNDAY - ST AR, WASHINGTON, D. C, FEBRUARY 17, 1924-PART 1. . ) ) -.__._.__.—____...__—————o»—h————-_—h————————————____‘ Army air service fiye ments, obtain passports, Licut.'J. Harding. Maj. Mart Left to r Ix in co beforr the oll committ ed to assist'™ ‘The railroad men also Mr. Pomcrene had been on roil of a rallroad prop: ganization, Senator Dil that the former acnator had ted bofore the committes the received a large sum—3l, for making four or fiv that orga; nizatio: “Will the senator of that organization? La Follette, “I can’t recall; I think the ator from Wisconsin can give it “Was it the National Transporta tion_Institute?’ siced \Mu.rv Follette, behind it ROBERTS HITS FOES. tory Declares He Has Neves Had 0il Connection.’ Spectal Dispatch to The Btar. PHILADELPHIA, Pa, Fabruary —Owen J. Roberts, named by Presi- dent Coolidge as republican In the oil cuse investigation, with great emphasis today has never had any connaction what- socver with Standard Oil Company in- terests. “Senator La Folletto having eald, “and I'm questions folks have me_about it. Tnever have had and have'nt now any relaticnshin with Staudard O™ Senator La Follette siggested that Mr. Roberts, in & speech in New York, February 15 nounced the inquiry then in progress by Senator La Foilette's committee as propaganda for the nationalization of the ofl industry. Mr. Roberts pointed out today that in his speech, he was Interested in business only in a general way “I- sald government must not interefere with private business, I did not say that government ouiht not to supervise the operation of, sy, railroads or er public utllities, I was speaking of private business and I had no particular industry in min @ reported as I have he tired of the suggested that eady deilvered 1923, de nd, “It's ridiculous to assume that T was defending Standard Oil or es clally interested in it in uny wa: Champloned High Pay. In & report of the speech, the New York Times sald- he champloned the high salaries paid té-officials of the Standard Ofl Company, and he at- tacked the Investigation of the sub- committee of the Senate into the oil industry at that time as “prapagan- da” for the natlonalization of indus- try. “The investigation of the Senate subcommittee into the ofl industry.,” the newspaper at that time wrote of the speech, “which disclosed that A. C. Bedford, chairman, and Walter C. Teagle, prc'lden! of the Standard Ofl w Jersey, received sal- 000 @& year and that six received $100,00 !lnnullxallan of industry, by Owen J. Mr. Roberts sald today, “against the nationaliza- tion of {ndustries.” Mr. Roberts said today that he dldn’t talk ealary with the President when he agreed to serves “It wasn't even considered.” smiled Mr. Roberts. He Is a huge man, who slumps over his desk and Emiles eas- 1ly, fashing white teath. “I'm going down there, if the Sen- ate confirms my appointment.” he ex- plained, “like & soldier shouldering a n._It is at a considerable sacrifice, Ut 1 ‘feel ‘that “when the President calls a fellow, a fellow is in duty bound to pack up and go." Mr. Roberts fsn't the sort of a man | to boom heroics. His.voice is a rich baritone. Opintons of Self. i But he speaks with restraint and | his picture of himself as a soldier | shouldering & gun was a matter-of- fact picture not to inspire admira- tion, but to'get his attitude across. | It means & lot of hard work. And it's the first time I've ever had any- I don't know any of the men involved. Never met ome of them,” his volce boomed. “I expect the investigation will be a matter of woeks. I know It will mean oonshlerable digging Into the question of these leames. How they differ from ordinary leases, into government land law and a thousand and one othnr detalls.” BAKER URGES VOTER ACT who have been chosen to pliot t) | heard in his own circle, TO PREVENT CORRUPTION lBl’l Teapot Dome Disclosures Na- tional T¥agedy Rather Than Party Misfortune. By the Aemciated Pross. CLEVELAND, Ohlo,_ Fobrulry 18— Termi the_evidence O officlal corrup- ton in-Washington a national tragedy, Father than @ party misfortune, New- ton D. Baker, former Becretary of War, in an addréss here oalled upon Ihl voters to make the recurrense of su & condition an impossibility. "A #oldier who s.ceps on outpoat duty endlnnrt flives of his his cnunln 1s Montana, who lnrnxr l DI s 7. not only goes unpunished, but . feels . himself :fitm towl';mma eynital when eorma on,beeomn evi- hington sénator sald there{dent. was ob)oellnn 16 Mr. Pomerene on s & corparation that hl- firm reprasénts many nllrn ll\eludl 3 Pennsylvania, 0ad 1aDar o Wwho appearsd S b; who % "I mfi'f‘ Jits ‘agd & gréater. tnm m them, can yunch%e la um-\-p the }.ma or fin\!rn'me? r of preeumeb iy * o ht: Lieut. S, D, amand. .| RECESS IN OIL INQUIRY IS STOCK-TAKING CHANCE .“J'fi“,fl!!“..fiéfi").. = comments reing the President. poreciated that he has sald anything for politi- but that his stand has honesty, patriotism and enge, with the highest coti- It seems that the nstinctively sensed it and ing as would be expected. PR oniy opponent for the nomina- . Johneon, And it 1s His tion, Sen: who 18 ev ing hic own campaign. principal theme exhortation that the “ropublicans clean house.” It will be recalled that when Senator John- son shied hie hat into the ring it was pointed out that he would be, us would any other opposing candi- date, at a disadvantsge In that while VPresident Coolidge would be in a po- ton to “do things" his cpponents d only promise what they would do in casc they were put in office. is turning out that way. While Senator Johnson is voclferous in pro- testation of what should be done, in- ferentially promising that he would do it if elected President, the fact that President Coolidge 18 ‘elnz right ahcad doing it, while the public appreciates and acclaims. Moreover, he is not only going to clean the republican house where it 1s needed, but the demo- cratic house, too, which has shown dirt in spots. As soon as the Senate has con- firmed the President's selection of prosecutors in the oll scandal caees, the work of housecleaning will proceed, without fear or fa- vor, and the public 15 assured that 2 good job will be made of it The President, it is realized, has done his utmoet to get good men for the undertaking. takes for his c the Wo! * %k x % It was made piain at the White House last Friday that the Presi- dent will “stand pat” on the se- lection of former Senator Pomer- ene, and it is up to the Senate to prove that he is in any way dlis- qualified for the position. This was another instance of the Pres- tdent's courage in carrying on, when he considered he is right, in the face of captious clamor. * %k * This week there 18 to be a try out of the possible political effect of the oll scandals on the political fortunes of Candidate McAdoo. A conference will be held in Chicago l'of his supporters from at least twenty-five states. Mr. McAdoo has been requested by hls general manager, David Ladd Rockwell, to attend the conference In person, and will be there. It is announced from his headquarters in Chicago that “Mr. McAdoo will put square- ly up to them the question of whether ho is wanted. If he is given their vote of confidence, he says he will fight for the nomina- tion to the last. 1f the meeting decides against his candidacy for the good of the party, he will work as a private in “the ranks for the party nominee.” * K K X Politiclans expect that this con- ference of his friends will urge him to stay fo the race. and that he will conseuently it is pointed out s o ing will not be representative of the party at large, but of the Mc- Adoo partisans, favoring his nom- ination. It will still devolve upon the party leaders and fanagers, not all of whom are McAdoo men, to consider the best Interests of the party and to appraise hi billty a candldate. pected determination to run will but accentuate the opposition of those who consider that his DVI o ability has been impalred b, legal connection. with the oil l terests, now abandoned, eince & section of the publi¢ did not seem to, consider it {n the same ligh thgt Mr. McAdoo: vieweg it up to time the storm brok$. kR . So it falls out that every day In democratic circles there is discuse sion of other: candidates, in the contingency that opposition to him continues. to rise. Georgia demo- crats are reported anting Bel- ator Walsh of Montana to get into the race. Sehator Glass of Vir. ginla and Homer 8. Cummings of Connecticut are talked of by thdr friends. Senator Underwood classed as stéadily forging -hnd. Senator Ralston of Indlana has come moré In the public eye since he made & set speech In the Hen. ate, volcing his _attitude toward questions of. the day. The d.mocnl-. set adritt n thelr cholce’ of “candidates by the Me- Adoo developineats, may be satd to be still at wea. ——ee Bake, the national beverage of the Japanese; I8 usunlly drunk warmed. the hottle whigh cusitalne it bélng ln= anere al g Lulma l \ the Society of Washington at the Cosmos Club last night. the Bureau of Entomology spoke on|lowed the le ‘R light. They arrived In Washington yestarday to make their final arrange- Schulse, Licut, Erie Nelsen, Maj. F. S, Martin, Liewt. L. P. Arnold, laieut. L. Wade, Licut. L. k. Smith, npowting foreign pars TWO LECTURES GIVEN. tliustrated meeting of ites of bioiog seiety in social featured Biolog tures the vo surve | o lation te Howard of | sgncts.” ical disposit L O A in- ical on in- fol- WALSH BOOM GIVEN START IN GEORGIA Watson Followers Create Furor by Lining Up Behind Senator, a Catholic. | e | Speciat Dispatch to The Star. ATLANTA, Ga., February 16.—Sen- | ator Thomas J. Walsh of Montana, ranking democrat of the public lands | committee of the United States Sen- | ate, now investigating the alleged | oil lease frauds, probably will bhel placed in the race for Georgla's in- dorsement as the nominee for Pres- ident, it has been announced by Rep- resentative A. J. Stovall of Elbert| county, one of the leaders in the Georgla house of representatives, Dr. Stovall has called upon his {friends to circulats petitions for the placing of Senator Walsh's name on the ballot in the Georgla primary a |has asked supporters of Senator| | Walsh to mect in Atlanta on Febru- lary 18, to form an orgunization for| | the Mantana senator. 1 Stovall clalms he has authoritative Georgla | nouncement of Stovall, wha | prominent follower of the late - (ator Tom Watson of Georgia, is con- | sidered another attempt to line up hind a presiden. Cuatholle, @ decided furor. ormal application for entrance in | presidential primary of | 12 has been for Oscar W. crwood, who thereby becomes the first prestdential can d to qualify under the rules of t Georgla state | executive committee Supporters, respectively, a G. McAdoo and C James A | Reed are condu active - | Paigns and it is expected that formal | applications for their candidates will {#is0 be filed socn. | " First formal indorseme. | publican candidate was made at l'fllent meeting of the republican sta x!( committee, headed by C. P. Goree, when the administration of President | Calvin Coolidge was approved P. W. HAMMOND. of WiI ROB TRUST COMPANY. CAMERIDG . February 1 Two bandits entered 2 branch office ambridge Trust Com t biackjacked r TEAPOT FIELD IDLE, MANAGER REPORTS Practically at Standstill ~Sinee Early Winter—Drilling Awaits Sinclair Orders. TWO0 OLD WELLS DEEPENED New One Sunk, W. L. Connelly An- nounces. By the Associated Press. CASPER Wyo., February 15.—De- velopment operations on the Teapo! Ofl Dome, forty-five miles north of here have been practically at & stand- still elnce early winter, W. L. Con- nelly, vice president and general man ager of the Mammoth Ol Compa 5% |stated today In response to a report {that the company had shut dowr |operations because of the Senate of {committecs invest sation, When ma- In;' of only one new well fifld the cpening of two old ones to a low were continued. Tho new h cp Tecently and ope in progress on B #ts, which are headed for th ‘ormation, according to ) was tions [dee Ah» hlnl»d. ul’\l“ u'l are roceived from Harry Sin- Lost year's development pre not launched until thr March. The company has |completed to date elghty-six wells - {the Tcapot field The Mammoth Company Iprovision for winter operations, wa- nes being e €XCceD few wells on which work wa. |in progress. HELD FOR G:RAND JURY. » Raymond Harris Faces Charges of Robbery. nd Harrls, colored, lclatr. gram | middle made no Ray § with ¢t held for the grand jury unde of 34,000 by Judge Schuldt ir charger Harrls §s accu [ nistol's 1A total of § men. on different occasfons. was taken from the L. E. BREUNINGER, President and Gen. Manager THOMAS SOMERVILLE, Vice President to be done on borrowed money. are now $788,786.35. December 31, 1923. ‘mon stock at par. Leaving a net surplus of $91,822.98. ACTIVE! ‘L. E. BREUNINGER, President and Gen. Manager President, L. E. Breuninger & Sons Construction Co. President, Citizens Savings Bank THOMAS SOMERVILLE, Vice President President, Thomas Somerville Co. President, Park Bavings Bank Director, Metropolitan National Bank HENRY L. BREUNINGER Architect and Builder FRED DREW President, Fred Drew Company, Inc. Director, Citizens Savings Bank Director, Second National Bank T. C. DULIN . Secretary and Treasurer, Dulin & Martin Company Director, Federal-American National Bank FRANK H. EDMONDS Optician Director, Continental Trust Company Director, Fidelity Savings Bank Real Esiate 26 Jackson Place N.W. (West Side of Lafayette Square) Inc. Company EDWARD C. ERNST Electrical Contractor SOL LANSBURGH President, Lansburgh & Brother ANDREW LOFFLER President, A. Loffler Provision Co., Director, Lincoln National Bank R. L. NEUHAUSER, Vice President Vice President, Citizens Savings Bank MAJ. GEN. ANTON STEPHAN, Treasurer General Manager, Commanding General of the National Guard of District of Columbia, and Commanding General of the 29th Division of the National Guard. DONALDSON, JOHNSON & FRAILEY Counsel ROY L. NEUHAUSER, Vice President MAJ. GEN. ANTON STEPHAN, Treasurer SOLIDLY ESTABLISHED HE REAL ESTATE MORTGAGE AND GUARANTY CORPORATION was or-an- ized July, 1923, by a group of the leadiag business men of Washington because they saw a real need for such an organization in the development of the city. A great portion of mortgage money in use here has come from outside sources. At the same time, millions of dollars of Washington capital have each year flowed out through the purchase of external securities. It was recognized that the time has come when some part of this stream of capital should be diverted to use in Washington. With the growth of the nation, Washington, as its capital, is assured of a large and steady increase. In this growth, both new buildings and rebuilding of old structures are necessary. About 80 per cent of such builling always has been done and must continue The function of the mortgage company is to furnish the capital required, bringing together on one hand the dollars of thousands who are seeking e investment and, on the other, supplying funds for necessary development. The REAL ESTATE MORTGAGE AND GUARANTY CORPORATION is engaged in a ved old business which is not only conservative and safe, but highly profitable; and at the sam\time is of a character which renders a real service to the community. Attention Is Directed to the Accomplishments of the Corporation During the Past Seven Months The company began actual business operations about August 1, 1923, and its resources The surplus, discounts and earnings to January 31, 1924, amount to $101,095.52—less Dividend Number 1, amounting to $9,272.54, which was paid to stockholders of record The dividend paid was at the rate of 8% on the preferred stock and 29 on the com- In the management of this business the first essential is a knowledge of real estate and building valu- ations, and it is therefore with pardonable pride that your attention is directed to our directing per- sonnel—a well-balanced board, consisting of bankers, builders, real estate operators and merchants whose names are synonymous with the success and growth of Washington—and whose interests are torneys Director, Mt. Trust Officer, Bank Inec. President, Mt. Dulin & Martin pany, Inc. President, Wo Director, Was! Company HAYDEN JOHNSON Donaldson, Johnson & Fralley, At- SAMUEL MILLER President, Samuel Miller & Compaunr, WILLIAM MUEHLEISEN HORACE G. SMITHY Vice President and Treasurer, N, L. Sansbury Company Director, Citizens Saving Bank MICHAEL A. WELLER President, Weller Construction Com- Director, National Capital Bank Director, National Capital Insurance Company of District of Columbia DONALD WOODWARD Vernon Savings Bank Commercial Natlonal! Vernon Savings Bank odward & Lothrop hington Loan & Trust Mortgage &G’uarantyflam Washington. D. C. Main 1403-1404 Two-